NGKF Capital Markets has successfully completed the sale of the 201 Newbury Street retail condominium in Boston, Massachusetts to TH Real Estate on behalf of a private group of Irish investors. Executive Managing Director Geoffrey Millerd, Managing Director Justin Smith and Associate Director Paul Penman of the NGKF Capital Markets Boston team, which is led by U.S. Head of Capital Markets Robert Griffin, oversaw the transaction of the flagship retail asset.
Totaling 24,712 square feet, the 201 Newbury Street retail condominium is presently 100 percent leased to six tenants including Anthropologie, Ted Baker, Dr. Martens, Timberland, Francesca’s and Jacadi. The asset is located directly below The Prince, a 36-unit luxury residential condominium property, along Boston’s most exclusive retail corridor.
“201 Newbury Street’s retail rent roll represents the exact type of national and international brands that are highly sought after in today’s marketplace,” said Penman. “The property also boasts a prominent corner location on one of the most vibrant intersections on Newbury Street, benefiting from excellent year-round pedestrian traffic from locals and tourists.”
Situated just two blocks from Copley Square, one of the largest open spaces in Boston proper, and the MBTA Green Line’s Copley station, 201 Newbury Street enjoys a highly-visible location with convenient accessibility. Furthermore, the property is immediately surrounded by synergistic retailers highlighted by Kit and Ace, Nike’s iconic Boston flagship and Zara.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.